ST. LOUIS (KSDK) - A former student at a downtown business school allegedly shot a financial advisor Tuesday before turning the gun on himself.

There were originally conflicting reports about how many victims had been shot, but NewsChannel 5 has confirmed one male was shot in his office and found in the lobby of the Stevens Institute of Business and Arts in the 1500 block of Washington Avenue around 2 p.m., the Loft District.

The victim, whom sources identified as Greg Elsenrath, was shot in the chest. Elsenrath is the financial aid director at the Stevens Institute of Business and Arts.

The suspect, identified as 34-year-old Sean Johnson, shot himself when police approached him in stairwell between the third and fourth floors. A handgun was recovered from the scene.

Elsenrath and Johnson were transported to area hospitals in critical condition.

Sources said a possible motive for the Stevens Institute of Business and Arts shooting was a discrepancy about the Sean Johnson's financial aid. Johnson had been attending SIBA part-time for at least two years.

Johnson went to SIBA on Monday in an effort to get financial aid to continue his studies, but was rejected, according to sources. He returned to school on Tuesday to "voice his disagreement" about that decision with Elsenrath.

This is not Sean Johnson's first run-in with the law. In October 2009, Johnson was charged in Bridgeton with second-degree assault and unlawful use of a weapon. He was sentenced in July 2011 to five years probation on the assault charge due to mental health considerations and 6 months in jail on the weapon charge. However, the Missouri Board of Probation and Parole revoked Johnson's probation in May 2012 because of an undisclosed arrest. According to the Missouri Department of Corrections, Sean Johnson had a warrant out for his arrest since that time.

Between 40 and 50 students were on campus at the time of the shooting, police said, and moved to a secure location to be interviewed by investigators.

Approximately 180 students attend the Stevens Institute of Business and Arts, which offers degrees in Fashion & Retail, Interior Design, Business Administration, Tourism & Hospitality and Paralegal studies. In-state tuition is $10,125 per year.